In today’s high risk business environment, establishing a contract without accurately screening a supplier’s financial stability, licensing, insurance coverage and global watch list compliance can result in significant financial and public relations ramifications for both you and your client. Managing the overall compliance of large numbers of suppliers serving multiple locations is difficult, time consuming and expensive for facility management organizations to conduct internally.
Staying knowledgeable about the myriad of ever-changing global compliance regulations such as the federally mandated USA Patriot Act as well as many other global watch lists is nearly impossible. A mistake can be costly since your company is exposed to the risk of substantial fines and damage to your reputation anytime you knowingly, or even unknowingly, conduct business with suppliers that may be listed on any one of these watch lists.
Tracking insurance requirements for different types of suppliers serving various locations is cumbersome and complex. A lapse in your supplier’s insurance coverage can create an enormous risk for your company as well as your clients.
GRMS' proprietary, customizable Supplier Screening Program provides facility managers with a global solution for conducting the on-going compliance management of current and potential suppliers, contractors and service providers.
Learn how the GRMS Supplier Screening Program helps many of the nation’s top facility management companies mitigate these issues on a global basis at no cost to your company.